PHOENIX, May 9, 2011 /PRNewswire/ -- Bonanza Goldfields Corp. (OTCBB: BONZ) ("Bonanza" or the "Company"), an exploration and mining company headquartered in Phoenix, Arizona, successfully drills for and secures water source for its remote mountain desert placer mining operation. A Dakota Fabricators gold Washplant, recently transported, assembled and tested, at the Hull claim, depends on a reliable water source to optimize Bonanza Goldfields developing placer gold operations.
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"With the well successfully placed and drilled, we are now installing a pump and offgrid power source. We'll soon have ample water and can start the gold extracting washplant, running through it gold bearing gravels we have been screening and stockpiling in anticipation of this time. We went down several hundred feet to locate and attain the flows needed for the washplant, optimally requiring up to 60 gallons a minute of filtered recycled water, which we will carefully manage through the use of a small filtering and water recycling washplant reservoir already built and soon to be filled. Shareholders should be pleased with the completion of these mission critical steps."
About Hull Lode and Tarantula Claims Project Please view: http://www.bonanzagoldfields.com/tarantula.html
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Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with petroleum exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE Bonanza Goldfields Corp.
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